I am one month into the sale of my maisonette in Westcombe Park and the estate agent has just telephoned to say that the buyers are changing their law firm. The excuse is that the lender will only engage with solicitors on their approved list. On what basis would a big named lender only engage with certain solicitors rather the firm that they want to select for their conveyancing in Westcombe Park ?
Lenders have always had an approved set of law firms they are content to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Mortgage companies point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
My wife and I are soon to complete on the purchase of a house in Westcombe Park but as a result of damage from a small fire at the property I have was able negotiate reparation from the seller of £3k taking the form of a adjustment in the price. I had intended this to be addressed as part of amending the contract yet Nationwide will not permit this. Why were they informed?
The solicitor being on a Nationwide conveyancing panel is duty bound to disclose to Nationwide of any changes to the purchase price. If you were to refuse your property lawyer to notify the price change to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new solicitor for your conveyancing in Westcombe Park.
It is is a decade since I acquired my house in Westcombe Park. Conveyancing lawyers have recently been retained on the sale but I am unable to locate the title documents. Will this cause complications?
You need not be too concerned. First there is a possibility that the deeds will be retained by your lender or they may still be with the lawyers who oversaw the purchase. Secondly in all probability the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. Almost all conveyancing in Westcombe Park relates to registered property but in the unlikely event that your property is unregistered it is more problematic but is not insurmountable.
Please help - my lawyer advises that absentee landlord insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Westcombe Park?
The appropriate level of absentee landlord indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such policies.
I have decided to exercise my right to buy my property in Westcombe Park off the council. I have a mortgage offer with Yorkshire BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
Barclays have agreed my home loan in principle, my offer on a house in Westcombe Park has been agreed to, now what?
The estate agent will need to be advised as to your conveyancer's details (be sure the lawyers are on the lender’s panel). Call up Barclays or your financial adviser and finalise any relevant forms. Barclays will instruct a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes approximately ten days to get a mortgage offer. Barclays will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Westcombe Park.
I am looking into buying my first house which is in Westcombe Park and I am already nervous. I couldn't find anything specific about Westcombe Park. Conveyancing will be needed in due course but do you know about the Westcombe Park area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Westcombe Park. In the meantime here are some basic statistics that we found
In my capacity as executor for the will of my father I am disposing of a property in Monmouth but reside in Westcombe Park. My solicitor (based 200 miles from mehas requested that I execute a statutory declaration ahead of completion. Could you suggest a conveyancing solicitor in Westcombe Park to witness this legal document for me?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are Westcombe Park based